Vale under management: the decline retakes command
Vale stock slips 1.7% as the 77 area rejects it a fourth time
Vale under management: the decline retakes command
Our view last week
Vale shares extend the bounce that started a week ago off the double bottom in the 72 area, but with a different pattern: the recovery comes off a touch on the 20-day moving average, in the 75 area, and the week closes up 1.4%, with buyers still in control at 76% of volume. The price stays capped under resistance in the 77 area though, and money flow keeps deteriorating for this mining stock: the push still isn't fully convincing. The short is in its 13th week of management, above 6% in profit.
This week's summary
Vale shares give back ground again: the bounce stalled in the 77 area, where the 7-day high has now rejected the price for a fourth time, and the week closes down 1.7% with sellers back in control, at 66% of volume. The Sell signal has been under management since week 14, with the short more than 8% in profit: the decline retakes command, even as the trend loses some conviction.
IQS Phase
76
in tension
Signal Strength
20
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#11 / 17
Rest of the World stocks
Trade P&L %
+8.00%
from signal to date, no stop loss
Rank position
ranks 11th among the 17 sell signals for titoli resto del mondo in our ranking, with a signal strength of 20 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimein positive regime
Performanceweekly +4.82% · monthly +5.38%
VALE3 belongs to the materials sector (reference ETF XLB). The sector is classified in positive regime according to our weekly reading.
restricted Platinum content